Calgary-based Enverus Intelligence Research said last week upstream activity in mergers and acquisitions reached $105 billion in 2024 – the third highest total tracked by Enverus. That trailed only the record-setting $192 billion in 2023 and $108 billion in 2014. Activity did tumble in the second half of 2024; activity was only $9.6 billion in […]
U.S. Energy Development to spend up to $1 billion in 2025 primarily in Permian
Fort Worth-based U.S. Energy Development Corp. said this week it will spend up to $1 billion this year primarily in Permian Basin. The announcement followed a record-breaking year during which USEDC deployed nearly $800 million into operated and non-operated projects. Jordan Jayson, chairman and CEO, said Monday, “Our long-term acquisition and production strategies continue to […]
Permian People February 2025 – Movers and Shakers
February 2025 hiring’s, promotions, and other personnel matters in the nation’s biggest oil patch—or in companies who do business here. Rick Muncrief, 66, has announced his retirement from the position of President and Chief Executive Officer and member of the board of directors of Devon Energy Corporation, effective March 1. The board of directors […]
Ethics. Still Necessary?
I am on my soapbox this month because I have watched several people in various generations either ignore ethical behavior entirely or ignore it until they were reminded of the “right” way to do things. My question is: are there consequences for being unethical in 2025? Remembering the truth will always be easier than remembering […]
Upstream employment in Texas declines in December after 6 months of growth
Data from U.S. Bureau of Labor Statistics and Texas Independent Producers and Royalty Owners Association show a decline in upstream employment in the industry in Texas in December. TIPRO said upstream employment in the state in December was 195,500 – a decrease of 700 positions from November (500 in oil and gas extraction, 200 in […]
Chris Wright confirmed as energy secretary in Trump administration
Chris Wright, CEO of Denver-based Liberty Energy, was confirmed by the U.S. Senate Monday as secretary of energy in the new administration of President Donald Trump. Wright, 60, has been chair and CEO of Liberty since 2011. A graduate of MIT, he founded Pinnacle Technologies and later served as chairman of Stroud Energy. He was […]
Permian Basin drives increase in natural gas production, but demand grows faster
U.S. Energy Information Administration expects Henry Hub natural gas price to increase in 2025 and 2026 as demand for natural gas grows faster than supply. There is more demand from U.S. LNG export facilities which reduces natural gas in storage compared with the last two years. EIA said Jan. 23 it expects U.S. benchmark Henry […]
Atlas Energy acquires distributed power system in Permian from Moser Energy
Austin-based Atlas Energy Solutions said last week it agreed to purchase Moser Energy Systems, a provider of distributed power solutions, in a cash and stock transaction valued at $220 million ($180 million cash). Atlas said the combination of its completion platform and Moser’s distributed power platform creates “an innovative, diversified energy solutions provider with a […]
U.S., Permian Basin reverse eight-week decline by adding drilling rigs
Permian Basin and U.S. added drilling rigs last week for the first time in eight weeks, according to the weekly report of Jan. 31 from Baker Hughes. There were 303 rigs in Permian Basin (up 5 in the past week, down 8 in the past year) and 582 in U.S. (up 6 in the past […]
Rigging Up
The oil patch used to be famous for its behind-the-times mantra: “We’ve always done it this way.” But since the Shale Revolution and the increasing demand for speed, accuracy, and length in the drilling rig sector, that phrase is gone. “How can we do it better today than yesterday?” is the question for everyone. For […]
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